Missed Out on SoundHound AI's Run-Up? My Best Artificial Intelligence (AI) Stock to Buy and Hold

SoundHound AI has been one of the hottest artificial intelligence (AI) stocks on the market in 2024, clocking stunning gains of 936% as of this writing on the back of several favorable developments such as its outstanding growth, an investment from AI pioneer Nvidia, and positive coverage on Wall Street of late from analysts who believe that this voice AI solutions provider could be a big winner in the long run.The good part is that SoundHound AI has been growing at an incredible pace and seems to be making the most of the huge addressable opportunity on offer in the voice AI solutions market by building a solid customer base. However, the bad part is that the stock is extremely expensive right now following its remarkable surge in 2024.It is now trading at 109 times sales. For comparison, AI bellwether Nvidia has a price-to-sales ratio of 31 even after the outstanding growth that it has been clocking in recent quarters and the dominant position that it enjoys in the AI chip market. So, investors would do well to look for alternatives to SoundHound if they are looking to jump on to the AI bandwagon.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool